More news
Italy’s Corob has finalised its acquisition of Novaflow Systems, based in Ontario, Canada.
Novaflow Systems provides solutions that serve all segments of gravimetric fluid and paste dispensing and blending processes, servicing the paint, printing ink, packaging, coating, dye, oil, adhesive, fragrances, silicone and chemical markets.
Headquartered in Italy, Corob is one of the world’s leading suppliers of advanced tinting equipment for the global paints and coatings industry.
The acquisition, which closed on August 1, 2017, will strengthen the position of each of the two companies, with Novaflow’s long heritage in factory and batch production capabilities broadening Corob’s technology offering.
The acquisition means customers will benefit from having a provider that can supplement point-of-sales solutions all the way up to fulfilling factory production and productivity requirements.
The newly formed Corob-Novaflow Systems Inc will be key to faster rollouts and essential in accessing know-how and expertise deriving from operating in more than one sector of the tinting and dispensing processes.
Fernando Bertoni, CEO of Corob, stated, "We are excited about the combination of Corob and Novaflow Systems.
"With the transaction complete, we can now move forward quickly to realise the substantial benefits that the combined businesses will bring to our customers, employees and shareholders.
"I am pleased to welcome Novaflow to the global Corob team.
"The addition of their strong business, complimentary technologies, and highly differentiated products is expected to contribute significantly towards our strategic growth goals for Corob."
Fernando joined Corob as its CEO on July 1, 2017 after spending nearly two decades with General Electric Company on a number of operating and functional roles, both global and regional.
Ewan Scott, President of Novaflow Systems, said, "Novaflow Systems Inc. and Corob are a perfect match, as we share a host of synergies.
"I am most excited about reaching new potential customers from around the world with the support of Corob’s global sales and service network and integrating our software and hardware technologies to create unrivaled technology for both our existing and new customers.”
